This chart represents the recent (within the past year, as of May 1st, 2010) sales and listing activity within select communities in Naples and Bonita Springs.
For a larger version of this chart please click on the chart.
A community or development is typically considered in equilibrium if the absorption rate of that community is around one year. This means the number of sold properties within the last year are equal to or close to the number of listings currently for sale. Pelican Marsh, for example, is very close to being in perfect equilibrium with both condominiums and single family homes having sold about the same number of properties in the last year, that currently for sale. Prices have stabilized in this community.
The Park Shore, Moorings, and Seagate waterfront condominium market still has a high inventory level. While this area is certainly approaching price stabilization, there will be a slight price correction as the market absorbs that excess inventory.
“The source of this real property information is the copyrighted and proprietary database compilation of Sunshine MLS, LLC. Copyright 2010 Sunshine MLS, LLC. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”